Credit History
This section lists the accounts that you have with different lenders,
retail stores, credit card companies and other businesses, including
accounts on which you are listed as an authorized user (such as your
spouse’s credit card) and which will not be counted in your credit
score.
It includes the account numbers for each account, although these may be scrambled
for security reasons. Sometimes, you’ll find more than one account number
for the same creditor. This could be because you moved or because the creditor
assigned more than one account number to you. This isn’t necessarily
a cause for concern.
The payment history section does provide a great deal of detail, including:
- the date you opened each account;
- the kind of account (i.e., an installment account, such as a home or
car loan, or a revolving account, such as a Visa or a gasoline credit card);
- whether it is in your name alone or with someone else;
- the credit limit, the amount of a loan or the highest balance on a credit
card;
- the monthly payment amount if it’s fixed (such as on a auto loan),
or the minimum monthly payment if it varies (such as on a credit card);
- the outstanding balance; and
- whether there were any missed or late payments.
If you have a past-due account, the report may indicate whether it has been
referred to a collection agency. That makes a difference; an account that’s
been “sent to collection” is a much bigger black mark on your
credit score than one that’s just late.
You also may find information about closed or inactive accounts. These can
remain on your report for seven to 11 years, depending on the manner in which
the account was paid—or not paid.
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